Marshall & Sterling Wealth Advisors Inc. Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 606 shares of the information technology services provider's stock, valued at approximately $642,000.

A number of other hedge funds have also added to or reduced their stakes in NOW. Quarry LP bought a new position in ServiceNow during the fourth quarter valued at about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter valued at $34,000. Finally, FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on NOW. Citigroup dropped their price objective on shares of ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays set a $969.00 price objective on ServiceNow in a report on Thursday, April 24th. Scotiabank lifted their price target on ServiceNow from $1,050.00 to $1,075.00 and gave the stock a "sector outperform" rating in a research note on Thursday, April 24th. BMO Capital Markets cut their price objective on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,032.94.

ServiceNow Stock Up 1.3 %

Shares of NYSE NOW traded up $12.16 on Wednesday, reaching $955.02. 1,939,123 shares of the company's stock traded hands, compared to its average volume of 1,508,311. The business's 50 day simple moving average is $837.53 and its two-hundred day simple moving average is $967.60. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $197.69 billion, a price-to-earnings ratio of 139.83, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $3.41 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has approved a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,618 shares of company stock worth $21,132,878 in the last three months. Insiders own 0.38% of the company's stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.